I believe that this ties in with the stuff that is happening in the Obama White House.
Basically my friends, the progressive big Government party is over in Detroit and pretty much in America.
It is so bad in Detroit, that Mayor Dave Bing is calling it quits and not seeking relection.
The Story via The Detroit News:
Detroit — Mayor Dave Bing will not seek re-election to a second term as Detroit mayor, but said in a surprise announcement Tuesday he will create a committee to explore other opportunities, including a possible run for Wayne County executive.
Standing amid supporters at the Charles H. Wright Museum of African American History, Bing said he and his administration have put the city on the right path to restructuring, but that he’s begun to question whether the state truly wants to act as a partner after installing an emergency manager in Detroit.
Bing, 69, an NBA Hall of Famer and businessman, said Tuesday he and his administration have “worked diligently to restore integrity to the mayor’s office and rebuild our citizens’ trust in city government.”
He cited his administration’s successes, including keeping GM headquarters in Detroit; restoring Cobo Center as a host for the North American International Auto Show; improving transportation options; demolishing vacant blighted properties; and creating an authority to fix public lighting. He said his administration has worked to cut expenses and increase revenues “even before” the appointment of Emergency Manager Kevyn Orr.
“Detroit’s serious financial challenges have been 40 years in the making,” he said. “We have found ways to overcome some of the hurdles… change is occurring in our city.”
Bing wavered on his decision for months. On Tuesday, he said he’s decided to form an exploratory committee to consider other opportunities to serve the region through public office, including a challenge to Wayne County Executive Robert Ficano next year.
“The city was in pain when we came on board,” Bing said. “It pained me to see it in this condition. However, there’s still a lot of work to be done. It will not be completed by the end of my term. I will continue to work for the advancement of this city and this region. Cooperation is vital to Detroit’s success.”
Why did Bing toss in the towel? Well, it might have something to do with this here; an Editoral from the Detroit News:
Consider Kevyn Orr’s assessment of Detroit’s financial crisis as equal parts warning siren and leverage. The city’s emergency manager is giving residents and city workers a heads-up that what’s coming won’t be pretty or painless. He’s also establishing his bargaining position as he begins difficult negotiations with creditors to reduce Detroit’s crushing debt.
All of the intended audiences should take him seriously.
Orr’s report, the first since he took over in late March, is intended, in his words, as a “sobering wake-up call about the dire financial straits” of the city. The numbers are bleak: Detroit has a $326 million accumulated deficit that is expected to grow by another $60 million by June 30; $15 billion in short- and long-term debt, and $2 billion in infrastructure needs just for the public lighting and water departments.
Its $1.23 billion in revenue is $200 million less than four years ago.
“We’re not playing,” Orr told The Detroit News. “The city is insolvent.”
Meanwhile, health care costs for both retirees and active workers are soaring and the pension funds may be deeply underfunded.
What Orr needs residents, employees and creditors to wake up to is the reality that this crisis can’t simply be managed away. Orr used the word “insolvent” in his report for a reason: Detroit can’t keep operating unless drastic changes are put in place.
“We can’t cut enough” to balance the budget, Orr said. “We have to negotiate with stakeholders.”
I recommend that you go read the rest of that one above. It just does not look really bad; it is really bad. I see why Bing decided not to be the Mayor when all the wrangling of the city’s finances is finally done. This is not a good time for the City of Detroit at all. I believe that they will overcome the problems; but there is no doubt, people are going to suffer and suffer badly.